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Thursday, October 1, 2015

Yellen: Banks Need ‘Tailored’ Regulation

In her opening remarks for the St. Louis Fed’s third annual Community Banking Research and Policy Conference, Federal Reserve Chairman Janet Yellen emphasized the importance of tailored regulation of banks with different asset bases and business models. She said:

When it comes to bank regulation and supervision, one size does not fit all. To effectively promote safety and soundness and ensure consumer compliance without creating undue regulatory burden, rules and supervisory approaches should be tailored to different types of institutions.

Yellen’s comments echo those of other top regulators in calling for tailored supervision and pointing out areas in which Congress could make it easier for supervisors to tailor rules.

Read the speech.

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